The German business daily newspaper Handelsblatt this week again focused on the Greek economy, pointing to a distinct improvement in certain economic indices but at the same time referring to a “deceptive Greek recovery”.
The Dusseldorf-based media provider mostly centers on the country’s high debt load as an important challenge.
“Greece has received, since 2010, economic aid of up to nearly 256 billion euros in order to avoid bankruptcy. This sum corresponds nearly to the money received by Portugal, Ireland, Cyprus and Spain together. Yet the crisis has not, in any case, been overcome. Despite the fact that the (Greek) economy is again growing, it is uncertain how Greece will be able to repay its debts,” Handelsblatt notes.
Beyond the debt load, the German daily points to the specter of a huge amount of NPLs hanging over the country’s credit system, as well as banks’ sputtering efforts to sell-off “bad debt” portfolios or to even auction-off properties seized by individuals and companies with millions of euros in arrears.
Read more here.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons Copyright: DaveOinSF~commonswiki License: CC-BY-SA
Source: naftemporiki.gr
